Innovative Industrial Properties (NYSE:IIPR) Releases Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Innovative Industrial Properties (NYSE:IIPR) announced its earnings results on Monday. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.17, Zacks reports. The business had revenue of $66.66 million during the quarter, compared to analysts’ expectations of $66.16 million. Innovative Industrial Properties had a return on equity of 6.77% and a net margin of 45.80%.The business’s revenue was down 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.03 earnings per share.

Innovative Industrial Properties Stock Up 1.2%

Shares of IIPR opened at $46.27 on Tuesday. The company’s 50-day moving average price is $49.42 and its 200 day moving average price is $51.73. Innovative Industrial Properties has a 12-month low of $44.58 and a 12-month high of $74.92. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.30 billion, a P/E ratio of 10.96 and a beta of 1.47.

Innovative Industrial Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 16.4%. The ex-dividend date of this dividend was Wednesday, December 31st. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 180.09%.

Institutional Investors Weigh In On Innovative Industrial Properties

A number of institutional investors and hedge funds have recently made changes to their positions in IIPR. Advisory Services Network LLC acquired a new position in shares of Innovative Industrial Properties in the 3rd quarter worth approximately $34,000. Los Angeles Capital Management LLC purchased a new stake in shares of Innovative Industrial Properties during the fourth quarter worth $35,000. Headlands Technologies LLC raised its stake in shares of Innovative Industrial Properties by 109.4% in the second quarter. Headlands Technologies LLC now owns 758 shares of the company’s stock valued at $42,000 after acquiring an additional 396 shares in the last quarter. Triumph Capital Management purchased a new position in Innovative Industrial Properties in the third quarter valued at $44,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Innovative Industrial Properties by 1,304.0% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,106 shares of the company’s stock valued at $113,000 after purchasing an additional 1,956 shares during the period. 70.58% of the stock is owned by hedge funds and other institutional investors.

Innovative Industrial Properties News Summary

Here are the key news stories impacting Innovative Industrial Properties this week:

• Positive Sentiment: Q4 funds from operations (FFO) of $1.88/share beat Zacks and industry estimates, signaling better-than-expected operating cash performance for the quarter. Innovative Industrial Properties (IIPR) Q4 FFO and Revenues Top Estimates
• Positive Sentiment: Company-wide release and analyst writeups note a small revenue beat (roughly in line with estimates) and management commentary about portfolio diversification and balance‑sheet strengthening, which investors view as de‑risking steps. Innovative Industrial Properties (IIPR) Q4 FFO and Revenues Top Estimates
• Positive Sentiment: Management said tenant-related matters are being actively resolved and highlighted strategic moves (including an investment in IQHQ), which reduced uncertainty and helped sentiment. Innovative Industrial Properties Reports Fourth Quarter and Full Year 2025 Results
• Neutral Sentiment: Market writeups and the company slide deck provide additional detail for investors to review — useful for due diligence but not new material that changes the beat narrative. View Press Release / Slide Deck
• Negative Sentiment: FFO and revenue remain below prior-year levels (FFO down from $2.22 to $1.88; revenue down ~13% YoY), a reminder of ongoing operational pressure that could limit upside absent sustained improvement. View Press Release / Slide Deck
• Negative Sentiment: Technicals and valuation: the stock remains below its 50‑ and 200‑day moving averages and well under its 52‑week high, which may cap near‑term gains if broader sentiment shifts. IIPR Stock Profile

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IIPR. Weiss Ratings cut shares of Innovative Industrial Properties from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, January 28th. Piper Sandler upped their target price on Innovative Industrial Properties from $43.00 to $44.00 and gave the company an “underweight” rating in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Strong Sell” and a consensus target price of $52.75.

Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.